Brokerages Set Jade Biosciences, Inc. (NASDAQ:JBIO) Target Price at $24.00

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.00.

JBIO has been the topic of several recent research reports. Zacks Research downgraded shares of Jade Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. Guggenheim raised their price target on shares of Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus set a $40.00 price target on shares of Jade Biosciences in a research note on Friday, March 6th. Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Finally, Wedbush restated an “outperform” rating and issued a $24.00 price objective on shares of Jade Biosciences in a report on Monday, March 9th.

Institutional Investors Weigh In On Jade Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. acquired a new stake in Jade Biosciences during the 2nd quarter valued at approximately $17,703,000. Geode Capital Management LLC acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $6,759,000. Versant Venture Management LLC acquired a new position in shares of Jade Biosciences in the 2nd quarter worth approximately $15,243,000. Affinity Asset Advisors LLC bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at $653,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at $71,000.

Jade Biosciences Trading Up 0.4%

Jade Biosciences stock opened at $13.92 on Friday. The stock has a 50-day moving average price of $14.66 and a two-hundred day moving average price of $12.14. Jade Biosciences has a 12 month low of $6.57 and a 12 month high of $100.10. The company has a market capitalization of $686.53 million, a PE ratio of -3.02 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.34.

About Jade Biosciences

Jade Biosciences, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for inflammatory skin diseases and chronic itch. Leveraging a small‐molecule platform, the company seeks to address significant unmet needs in dermatology by targeting key pathways involved in pruritus and skin inflammation. Its research efforts are centered on identifying and advancing molecules that can modulate receptor activity in the skin, with a goal of improving safety and efficacy compared to existing treatments.

The company’s lead programs are built around proprietary compounds designed to penetrate the epidermal barrier and selectively inhibit molecular drivers of itch and inflammation.